2020-25RESOLUTION NO. 2020-25
COUNCIL MEMBER WOLFF INTRODUCED THE FOLLOWING RESOLUTION:
A RESOLUTION OF THE MAYOR AND COUNCIL OF THE CITY OF BLAIR,
NEBRASKA APPROVING AN AMENDMENT TO A REDEVELOPMENT
PLAN ENTITLED "REDEVELOPMENT PLAN FOR THE
TRANSFORMATION HILL REDEVELOPMENT AREA".
WHEREAS, the Mayor and City Council of the City of Blair, Nebraska (the "Council"), acts
as the governing body of the Community Development Agency of the City of Blair, Nebraska (the
"Agency"); and
WHEREAS, on June 12, 2018, the Mayor and City Council approved a redevelopment plan
for redevelopment within the Transformation Hill Redevelopment Area (the "Plan"); and
WHEREAS, attached hereto and incorporated herein as Exhibit "A" is an amendment to the
redevelopment plan for the Transformation Hill Redevelopment Area (the "Plan Amendment"); and
WHEREAS, the Planning Commission of the City of Blair, Nebraska, recommended the
Council's adoption and approval of the Plan Amendment on March 16, 2020; and
WHEREAS, the Plan, as amended by the Plan Amendment, complies with the
Comprehensive Plan of the City, and will result in the elimination and prevention of blight; and
WHEREAS, the redevelopment set forth in the Plan, as amended by the Plan Amendment,
would not be economically feasible without the use of tax -increment financing.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF THE
CITY OF BLAIR, NEBRASKA:
Section 1. All recitals, findings and declarations set forth in Resolution No. 2018-14
remain applicable and true with respect to the Plan, as amended by the Plan Amendment, and are
hereby adopted and incorporated herein with respect to the Plan Amendment.
Section 2. The Plan Amendment attached as Exhibit "A" complies with the
Comprehensive Plan of the City.
Section 3. Based on the substantial evidence in the record of this proceeding, the
Council finds as follows:
(a) The proposed land uses and building requirements in the
redevelopment area as described in the Plan, as amended by the Plan Amendment,
are designed with the general purpose of accomplishing, in conformance with the
City's Comprehensive Plan, a coordinated, adjusted and harmonious development
of the City and its environs which will, in accordance with the present and future
needs, promote health, safety, morals, order, convenience, prosperity and the
general welfare, as well as efficiency and economy in the process of development;
that under the Plan, as amended by the Plan Amendment, adequate provision is made
for traffic, vehicular parking, the promotion of safety from fire, panic and other
dangers, adequate provision for light and air, the promotion of the healthful and
convenient distribution of populations, the provision of adequate transportation,
water, sewage and other public utilities, schools, parks, recreational and community
facilities and other public requirements, the promotion of sound design and
arrangement, the wise and efficient expenditure of public funds and the elimination
of, or prevention of the recurrence of, insanitary or unsafe dwelling
accommodations or conditions of blight.
(b) The Plan, as amended by the Plan Amendment, contains a
satisfactory statement of the proposed method and estimated cost of acquisition and
preparation for redevelopment of the redevelopment area; that no public
improvements are required to be provided except as set forth in the Plan, as amended
by the Plan Amendment, with respect to the redevelopment project set forth therein;
that the Plan, as amended by the Plan Amendment, sets forth the estimated proceeds
or revenue expected to be obtained by the City from disposal of property to the
redeveloper; that the Plan, as amended by the Plan Amendment, sets forth a
satisfactory method of financing for the proposed redevelopment consisting of
direct payment for public improvements or grant assistance to the redeveloper for
the redevelopment area, as designated in the Plan which method of financing is the
issuance by the Agency of its tax increment revenue bonds to provide funds to pay
for the costs of certain public improvements directly or of public or private
improvements by grant assistance and that there are no families currently living
within the redevelopment area, as set forth in the Plan, as amended by the Plan
Amendment, which are currently expected to be displaced from such area.
(c) The cost -benefit analysis prepared in conjunction with the Plan, as
amended by the Plan Amendment, and attached thereto sets forth the factors required
under section 18-2113 of the Nebraska Revised Statutes and supports the Council's
adoption and approval of the Plan Amendment.
Section 4. The redevelopment set forth in the Plan, as amended by the Plan Amendment,
would not be economically feasible without the use of tax -increment financing; would not occur in
the redevelopment area described in the Plan, as amended by the Plan Amendment, without the use
of tax -increment financing; and the costs and benefits of the Plan, as amended by the Plan
Amendment, including costs and benefits to other affected political subdivisions, the economy of the
community, and the demand for public and private services have been analyzed by the City and have
been found to be in the long-term best interest of all those impacted by the Plan, as amended by the
Plan Amendment.
Section 5. Based on the foregoing and substantial evidence in the record of this
proceeding, the Mayor and Council hereby approve and adopt the Plan Amendment.
COUNCIL MEMBER ANDERSEN MOVED THAT THE RESOLUTION BE ADOPTED AS
READ, WHICH SAID MOTION WAS SECONDED BY COUNCIL MEMBER WOLFF. UPON
ROLL CALL, COUNCIL MEMBERS JENSEN, HALL, ANDERSEN, WOLFF, RUMP,
SHEPARD AND STEWART VOTING "AYE" AND COUNCIL MEMBERS NONE VOTING
`NAY", THE MAYOR DECLARED THE FOREGOING RESOLUTION PASSED AND
APPROVED THIS 14TH DAY OF JULY 2020.
CITY OF BLAIR, NEBRASKA
BY:
RICHARD HANSEN, MAYOR
ATTEST:
Q6nw_� 1_3 &s, -
BRENDA WHEELER, CITY CLERK
G`,�.( OF BG\
(SEAL)
STATE O ® )
) :ss:
WASHINGT ' I4'., @OU TY )
BRENDA WHEELER, hereby certifies that she is the duly appointed, qualified and acting City
Clerk of the City of Blair, Nebraska, and that the above and foregoing Resolution was passed and
adopted at a regular meeting of the Mayor and City Council of said City held on the 14th day of
July 2020.
L"',t-Ij �,
BRENDA WHEELER, CITY CLERK
APPROVED AS TO FORM:
SPECIAL CITY ATTORNEY
EXHIBIT "A"
Plan Amendment
(See attached)
DOCS/2442112.1
FIRST AMENDMENT TO REDEVELOPMENT AGREEMENT
This First Amendment to Redevelopment Agreement ("Amendment") dated this 14th day
of July, 2020, is entered into by and between the Community Development Agency of the City of
Blair, Nebraska ("Agency") and the City of Blair, Nebraska ("Redeveloper").
RECITALS
A. The Mayor and Council of the City of Blair, Nebraska, as the governing body of the
Agency, approved a redevelopment plan entitled "Redevelopment Plan for the Transformation Hill
Redevelopment Area" (the "Plan").
B. The Agency and Redeveloper entered into that certain Redevelopment Agreement dated
June 26, 2018, and approved by the Agency via Resolution 2018-2, attached hereto and
incorporated herein as Exhibit 9" (the "Redevelopment Agreement"), to implement the
Redevelopment Project, as defined therein.
C. Thereafter, the Mayor and Council of the City of Blair, Nebraska, as the governing body
of the Agency, approved an amendment to the Plan (the "Plan Amendment").
D. The Agency and Redeveloper desire to amend the Redevelopment Agreement to reflect
certain changes to the Redevelopment Project, as set forth in the Plan Amendment and this
Amendment.
E. This Amendment incorporates the terms of the Redevelopment Agreement as if fully set
forth herein; provided, however, that if the terms of this Amendment conflict with the
Redevelopment Agreement, this Amendment shall control.
F. Any capitalized terms not otherwise defined herein shall have the meaning set forth in the
Redevelopment Agreement.
NOW THEREFORE, in consideration of mutual promises contained herein and in the
Redevelopment Agreement, the parties agree to amend the Redevelopment Agreement as follows:
1. Subsection_1(g). Subsection 1(g) of the Redevelopment Agreement is hereby deleted and
restated as follows:
(g) Subject to the "Additional Levy" (defined in Section 2 of this Redevelopment
Agreement), Redeveloper acknowledges and agrees that the Agency shall not be
obligated to pay any costs related to the Redevelopment Project other than costs to
be paid from available grant monies, if any, and Redeveloper, or Redeveloper's
1
DOCS/2442114.1
successors or assigns, hereby undertakes and agrees to pay any and all such cost.
All costs of the Redevelopment Project shall be paid in full and there are and shall
be no construction liens unpaid against the Redevelopment Project Area or any of
the improvements thereon owned by Redeveloper. Redeveloper agrees to provide
for the construction of public improvements located within the Redevelopment
Project Area as described in the Plan or as described in this Redevelopment
Agreement, except to the extent that the Agency shall agree otherwise by separate
written agreement with Redeveloper.
2. Section 2. Section 2 of the Redevelopment Agreement is hereby deleted and restated as
follows:
Section 2. Incorporation of Plan; Agency to Issue Bond.
This Redevelopment Agreement hereby incorporates the Plan by this reference. The
Agency and Redeveloper anticipate that the Redevelopment Project and related construction will
be undertaken and constructed in multiple phases. The Parties anticipate that a total of one (1)
bond will be issued for the Redevelopment Project (i.e., one bond encompassing all phases). Each
phase of the Redevelopment Project will specifically identify the specific lots within the
Redevelopment Project Area that will be developed in that phase. Each phase will have a different
"effective date" (as defined in the Act) for the division of ad valorem taxes along with a new
increment period. The increment for each phase will end after the applicable 15 year period or at
the maturity date of the Bond, whichever occurs first. The applicable effective dates will be
established by Redevelopment Agreement Amendments (defined below).
In accordance with Section 18-2147 of the Act and the terms of the Resolution, the Agency
hereby provides that any ad valorem tax on any lot or lots located in the Redevelopment Project
Area which is/are properly identified from time to time by the Redeveloper (such Lot or Lots being
referred to herein as a "Phase") for the benefit of any public body be divided as set forth below.
The Redeveloper shall identify such lot or lots in the form of amendment in substantially the form
attached hereto as Exhibit "D" (each, a "Redevelopment Agreement Amendment"). The
applicable ad valorem tax shall be divided for a period of fifteen (15) years (for each Phase), or
less as set forth herein and/or in such notice, after the effective date set forth in the applicable
Redevelopment Agreement Amendment, consistent with the Redevelopment Plan.
In order to provide for payment of some of the TIF -eligible costs for the Redevelopment
Project set forth in the Plan and this Redevelopment Agreement, as described in Exhibit "B",
attached hereto and incorporated herein (the "Public Improvements" or 'Eligible Costs"), the
Agency shall proceed to issue the Bond on a form approved by the Agency, in the principal amount
not to exceed One Million Nine Hundred -Fifty Thousand Dollars ($1,950,000), at a rate of interest
determined in the Agency's discretion, under the Resolution, with such terns and conditions as
2
DOCS/2442114.1
the Agency reasonably determines appropriate under the circumstances to be set forth in the
Resolution.
Subject to the Additional Levy, the Bond shall constitute a limited obligation of the Agency
payable exclusively from that portion of the incremental ad valorem real estate taxes generated
from the Redevelopment Project pursuant to section 18-2147 of the Act and collected for a period
not to exceed fifteen (15) years from the effective date of each Phase. Notwithstanding the
foregoing, in the event that the excess ad valorem real estate taxes, or other funds of the Agency
used as debt service toward the Bond, are not sufficient to make the semi-annual debt service
payments on the Bond, as may be monetized to Redeveloper's lender, the Agency shall initiate
action to levy a tax under Section 18-2107(11) of the Act, as may be revised, in an amount
sufficient to meet such debt service obligations on the Bond (referred to herein as the "Additional
Levy"). Upon receipt of any of the above proceeds, the Agency shall deposit the proceeds of the
Bond with the Treasurer of the Agency, pursuant to the Resolution, and said Treasurer shall
disburse said proceeds to the holder of the Bond to provide for reimbursement of all or a portion
of the costs of the Eligible Costs, to the extent paid by Redeveloper, as evidenced by paid invoices
or other cost certification evidence acceptable to the Agency.
Unless otherwise determined by the Agency, the proceeds of the Bond shall be applied to
the costs described above.
Provided that Redeveloper is then in compliance with the terms and conditions of
this Redevelopment Agreement and applicable law, the Agency shall be obligated to
execute the appropriate Redevelopment Agreement Amendments and otherwise comply
with the terms of this Section for the capture of the tax increment for the applicable portion
of the Redevelopment Project Area. Specifically, provided a Redevelopment Agreement
Amendment is delivered to the Agency no later than July 1 of the calendar year of the
effective date of such Phase (or later if allowed in the sole discretion of the Agency; but in
no event later than July 20th of such year), the Agency shall: (a) execute the
Redevelopment Agreement Amendment, and (b) file before August 1 of such year a
"Notice to Divide Tax for Community Redevelopment Project" for such Phase with the
office of the Washington County Assessor, without requirement of additional hearings or
public notice.
3. Subsection 3 (Q(v). Subsection 3 (d)(v) of the Redevelopment Agreement is hereby deleted
and restated as follows:
(v) to pay those local ad valorem real estate taxes levied and assessed to become due
until termination of this Redevelopment Agreement, at the earliest time in said
year that such taxes have been determined and in any event on or before such
termination; and
3
DOCS/2442114.1
4. Section 18. Section 18 of the Redevelopment Agreement is hereby deleted and restated as
follows:
Section 18. Termination.
This Redevelopment Agreement shall commence as of the date first above written and shall
terminate upon the earlier of fifteen years after the division date for the final Phase, as set forth in
Section 2 of this Redevelopment Agreement, or payment of all principal and interest owed toward
the Bond.
5. Exhibit "B". Exhibit "B" of the Redevelopment Agreement is hereby deleted and restated
as provided on Exhibit "1 ", attached hereto and incorporated herein.
6. Exhibit "D". Exhibit "D" of the Redevelopment Agreement, as referred to in the amended
Section 2, above, is attached hereto and incorporated herein as Exhibit "2" of this Amendment.
7. Reconfirm other Terms. The Agency and Redeveloper hereby reconfirm all other terms
and conditions of the Redevelopment Agreement, except as expressly modified by the terms of
this Amendment.
(Signature page follows)
M
DOCS/2442114.1
This Amendment to Redevelopment Agreement is effective as of the date reflected in the
first paragraph above.
"AGENCY"
COMMUNITY DEVELOPMENT AGENCY
OF THE CITY OF BLAIR, NEBRASKA.
ATTEST:
By: By:
Secretary
Chairman
"REDEVELOPER"
CITY OF BLAIR, NEBRASKA
ATTEST:
By: By:
City Clerk Mayor
DOCS/2442114.1
Exhibit 1
Amendment to Exhibit "B" of the Redevelopment Agreement
Projected TIF Sources and Uses
Projected_ Sources:
Estimated Tax Levy 2.122854
Anticipated Interest Rate 4.39%
Number of Years 15 per Phase
Property Valuation:
Assessed Val.
Pre -Project $500,000*
Completed Project $13,485,000**
Difference $12,985,000
Total TIF Amount: $4,093,440
Est. Taxes (less 1% assessor's fee)
$10,508
$283,404
$272,896
* The assessed value of the Redevelopment Project Area is based upon an estimate and not
historical records due to replatting and the land's prior tax-exempt status. The actual base
valuation will be determined by the county assessor for Washington County.
** The estimated value of the completed Redevelopment Project is the aggregate final value
after completion of all Phases and may vary.
Exhibit "1"
DOCS/2094598.2
Projected TIF Uses (i.e., Public Improvements and Eligible Costs)*:
Asbestos Abatement
$125,025.00
Building Demo
$382,729.00
Tree Removal and Grading
$184,400.60
Paving
$474,524.92
Electric Installation for Lots 27 through 57
$66,150.00
Storm Water and Sewer Construction/Management
$933,052.80
Water Extension to Lots 27-57
$180,246.26
Legal Fees
$16,143.04
City's Publication Costs
$91.35
Warrant Interest
$77,749.51
TOTAL
$2,440,112.48
* All costs represent the total of the hard construction costs, studies, professional fees, testing,
architecture and engineering fees associated with such cost.
* * The above figures are only estimates of the Eligible Costs and such actual costs will be
reflected in the cost certifications required under section 2 of the Redevelopment Agreement.
*** All Eligible Costs contemplated in the Plan and not otherwise specified herein shall be
included as Eligible Costs for purposes of this Redevelopment Agreement under this Exhibit
..B..
Exhibit "1"
DOCS/2442114.1
Exhibit 2
Exhibit "D" of the Redevelopment Agreement
AMENDMENT TO REDEVELOPMENT AGREEMENT
This Amendment to Redevelopment Agreement ("Amendment") is made and entered into as of
the day of , 20_, by and between the Community Development Agency of
the City of Blair, Nebraska (the "Agency"), and the City of Blair, Nebraska ("Redeveloper").
The Agency and Redeveloper may be referred to hereinafter as the "Party" or collectively as the
"Parties".
RECITALS
WHEREAS, Redeveloper and the Agency entered into that certain Redevelopment
Agreement dated June 26, 2018, as amended on , 2020 (the "Redevelopment
Agreement"); and
WHEREAS, pursuant to Section 2 of the Redevelopment Agreement, the Parties wish to
set forth an additional Phase via this Amendment.
NOW, THEREFORE, for and in consideration of the premises and the mutual covenants
herein contained, the Parties do hereby agree, covenant and warrant as follows:
1. Recitals; Definitions. The Parties hereby agree that the Recitals set forth above are true
and correct and are incorporated herein by this reference. Capitalized terms not otherwise
defined in this Amendment shall have the meanings assigned to them in the Redevelopment
Agreement.
2. Amendment. Pursuant to Section 2 of the Redevelopment Agreement, the
Redevelopment Agreement shall be and hereby is amended and supplemented as follows:
(a) This Amendment incorporates a new Phase of the Redevelopment Project which
shall include the following lot(s) in the Redevelopment Project Area:
[identification of such lot(s) including the legal description of each]
(the "Lots")
Exhibit "2"
DOCS/2442114.1
(b) The "effective date" (as defined in the Act and the Redevelopment Agreement)
for the Lots shall be , 20_;
(c) The base year valuation for the Lots shall be the year 20_
(d) The Agency shall file a Notice to Divide on and upon the Lots in conformance
with the dates provided herein.
3. Miscellaneous. Except as specifically set forth in this Amendment, all terms and
conditions in the Redevelopment Agreement shall remain in full force and effect and the
Redevelopment Agreement is hereby ratified by the Parties. This Amendment shall inure to the
benefit of and be binding upon the parties to the Redevelopment Agreement and their respective
successors and assigns. The rights granted hereunder shall run with the land and burden the
Phase One Area. This Amendment shall be construed under and in accordance with the laws of
the State of Nebraska without regard to principles of conflicts of law. The Agency
acknowledges that there has been no Event of Default under the Redevelopment Agreement by
Redeveloper. This Amendment may be executed in any number of counterparts, all of which
taken together shall constitute one and the same instrument, and any of the Parties hereto may
execute this Amendment by signing any such counterpart.
(Signatures on following pages)
Exhibit "2"
DOCS/2442114.1
IN WITNESS WHEREOF, the Parties have caused this Amendment to be executed by
their duly authorized representatives as of the date set forth above.
COMMUNITY DEVELOPMENT AGENCY OF
THE CITY OF BLAIR, NEBRASKA
Chairperson
ATTEST:
Secretary
Exhibit 112"
DOCS/2442114.1
THE CITY OF BLAIR, NEBRASKA
Mayor
ATTEST:
City Clerk
Exhibit "2"
DOCS/2442114.1
Exhibit 3
Redevelopment Agreement
(See attached)
Exhibit "3"
DOCS/2442114.1
REDEVELOPMENT AGREEMENT
This Redevelopment Agreement ("Redevelopment Agreement") is made and entered into
as of the 26th day of June, 2018, by and between the Community Development Agency of the
City of Blair, Nebraska (the "Agency") and the City of Blair, Nebraska ("Redeveloper"). The
Agency and/or Redeveloper may be referred to hereinafter as the "Party" or collectively as the
"Parties".
WITNESSETH:
WHEREAS, the Mayor and City Council for the City of Blair, Nebraska, as governing
body of the Agency, has adopted and approved a plan entitled "Redevelopment Plan for the
Transformation Hill Redevelopment Area of the City of Blair, Nebraska", as amended (the
"Plan"). The Plan sets forth a redevelopment prof cot for the real estate described on Exhibit "A"
attached hereto and incorporated herein (the "Redevelopment Project Area"), which is primarily
located in the City of Blair, Nebraska, and which has previously been declared blighted and
substandard or otherwise eligible for redevelopment by the Mayor and Council of the City of
Blair, Nebraska (the City of Blair, Nebraska, in its municipal capacity and not as Redeveloper, is
referred to in this Redevelopment Agreement as the "City"); and
WHEREAS, the Agency has encouraged and induced Redeveloper to engage in certain
redevelopment activities in the Redevelopment Project Area and Redeveloper is not willing to
incur the substantial investment necessary for such redevelopment of the Redevelopment Project-
Area
rojectArea without the assistance of tax -increment financing ("TIF") provided by the Agency to
Redeveloper in this Redevelopment Agreement; and
WHEREAS, pursuant to the Plan, Redeveloper intends to demolish existing
improvements, conduct site preparation and construct various public improvements for the uses
and in the manner specified in the Plan (collectively, said improvements are referred to in this
Redevelopment Agreement as the "Redevelopment Project"); and
WHEREAS, the real property within the Redevelopment Project Area known as Area
Three and Area Four (as defined in the Plan and shown on Exhibit "A") is to be owned by
Redeveloper prior to undertaking the public improvements thereon; and
WHEREAS, after implementing the necessary public improvements, Redeveloper will
incrementally sell the residential lots located in Area Four to private developers for the purpose
of developing the.private improvements thereon; and
WHEREAS, Area Two (as defined in the Plan and shown on Exhibit "A"), excluding
public right-of-ways, is to be owned by Eriksen Construction Co., Inc. ("Eriksen Construction"),
prior to Redeveloper undertaking the public improvements thereon; and
WHEREAS, Area One (as defined in the Plan and shown on Exhibit "A") is owned by
Angels Share, a Nebraska nonprofit corporation; and
DOCS/2094598.2 1
WHEREAS, the Agency proposes to authorize the issuance of a tax increment revenue,
bond, or a series of bonds (the "Bond" or `Bonds"), to provide for eligible costs relating to the
redevelopment of the Redevelopment Project Area as shall be more specifically described in a
resolution (or resolutions) to be adopted by the governing body of the Agency (the
"Resolution'); and
WHEREAS, Redeveloper seeks the assistance of the Agency for the costs of the eligible
public improvements and therefore is willing to agree to the conditions herein set forth as an
inducement to the Agency to issue the Bonds as provided in the Resolution.
NOW, THEREFORE, for and in consideration of the premises and the mutual covenants
herein contained, the Agency and Redeveloper do hereby agree, covenant and warrant as
follows:
Section 1. Representatlons, Warranties and Covenants of Redeyeloperr.
Redeveloper hereby represents, covenants and warrants as follows:
(a) Redeveloper is a Nebraska municipal corporation duly organized and existing
under the laws of the State of Nebraska, is authorized to enter into and perform its
obligations under this Redevelopment Agreement and, to the best of the
knowledge of Redeveloper, is not in violation of the laws of the State of
Nebraska.
(b) Throughout the term of this Redevelopment Agreement, Redeveloper will
reasonably endeavor to construct, operate and maintain the Redevelopment
Project in accordance with the terms of this Redevelopment Agreement and all
applicable local, state and federal laws and regulations (including, without
limitation, environmental, zoning, building code and public health laws and
regulations).
(c) Redeveloper anticipates that the Redevelopment Proj cot will be completed over a
number of years based upon market conditions and other extraneous factors.
(d) Redeveloper has not received notices or communications from any local, state or
federal official or body that the activities of Redeveloper respecting the
Redevelopment Project Area or the construction of the Redevelopment Project
thereon may be or will be in violation of any law or regulation.
(e) Redeveloper will use its best efforts to obtain or to cause others to obtain, in a
timely manner, all required permits, licenses and approvals and to meet, in a
timely manner, all requirements of all applicable local, state and federal laws and
regulations which must be obtained or met for the Redevelopment Project to be
lawfully constructed, occupied or operated.
DOCS/2094598.2 2
(f) T c execution and delivery of this Redevelopment Agreement, the consummation
of the transactions contemplated hereby and the fulfillment of or compliance with
the terms and conditions of this Redevelopment Agreement are not prevented or
limited by and will not conflict with or result in a breach (i) of any provision of
any evidence of indebtedness, agreement or instrument of whatever nature to
which Redeveloper is now a Party or by which it is bound; or (ii) of any past,
pending or threatened litigation, court order, or administrative proceeding, by
which Redeveloper is or might become bound.
(g) Redeveloper acknowledges and agrees that the Agency shall not be obligated to
pay any costs related to the Redevelopment Project other than costs to be paid
from available grant monies, if any, and Redeveloper, or Redeveloper's successors
or assigns, hereby undertakes and agrees to pay any and all such cost. All costs of
the Redevelopment Project shall be paid in full and there are and shall be no
construction liens unpaid against the Redevelopment Project Area or any of the
improvements thereon owned by Redeveloper. Redeveloper agrees to provide for
the construction of public improvements located within the Redevelopment
Project Area as described in the Plan or as described in this Redevelopment
Agreement, except to the extent that the Agency or the City shall agree otherwise
by separate written agreement with Redeveloper.
(h) Redeveloper agrees to enter into a written agreement with Eriksen Construction
and any other owner of real property within the Redevelopment Project Area
endeavoring to build private improvements thereon. Such agreement shall
obligate the owner to construct the private improvements in the manner and for
the uses contemplated under the Plan and this Redevelopment Agreement.
(i) Redeveloper agrees and covenants for itself, its successors and assigns that as
long as the Bonds are outstanding, it will not discriminate against any person or
group of persons on account of race, sex, color, religion, national origin, ancestry,
disability, marital status or receipt of public assistance in connection with the
Redevelopment Project. Redeveloper, for itself and its successors and assigns;
agrees that during the construction of the Redevelopment Project, Redeveloper
will not discriminate against any employee or applicant for employment because
of race, religion, sex, color, national origin, ancestry, disability, marital status or
receipt of public assistance. Redeveloper will comply with all applicable federal,
state and local laws related to the Redevelopment Project.
(j) Any general contractor chosen by Redeveloper or any owner of real property
constructing improvements within the Redevelopment Project Area shall obtain
and keep in force at all times until completion of construction, policies of
insurance including coverage for contractors' general liability and completed
operations of at least $500,000 per occurrence and $1,000,000 in the aggregate,
and a penal bond as required by the Act and section 9 of this Redevelopment
Agreement. The Agency and Redeveloper shall be named as additional insureds.
Any such contractor shall be required to purchase and maintain property
Docs/2094598.2
insurance upon the Redevelopment Proj ect to the full insurable value thereof.
This insurance shall insure against the perils of fire and extended coverage and
shall include "All Rislc" insurance for physical loss or damage.
(k) With respect to the Redevelopment Project, Redeveloper has not filed nor does it
intend to file an application to receive tax incentives under the Nebraska
Advantage Act.
Section 2. Incorporation of Plan; Agency to Issue Tax Increment Bond(s).
This Redevelopment Agreement hereby incorporates the Plan by this reference. In order
to provide for payment of some of the public improvements set forth in the Plan and this
Redevelopment Agreement, as described in Exhibit "B", attached hereto and incorporated herein
(the "Public improvements"), the Agency shall proceed to issue the Bond on the form prescribed
in the Resolution, in the principal amount not to exceed $1,480,000, under the Resolution with
such terms and conditions as the Agency reasonably determines appropriate under the
circumstances to be set forth in the Resolution.
The Agency and Redeveloper hereby agree that the "division date" for the division of ad
valorem real property taxes as provided under the Act is January 1, 2019. The "redevelopment
project valuation" (as defiled under section 18-2103(21) of the Act) shall be the valuation of the
individual tax parcels within the Redevelopment Project Area as of January 1, 2018. The
Agency shall file notice to secure such division date in the manner prescribed by law. Upon the
occurrence of an unforeseen delay or change in market conditions, Redeveloper and the Agency
may agree in writing to a different division date.
The Bond shall constitute a limited obligation of the Agency payable exclusively from
that portion of the incremental ad valorem real estate taxes generated from the Redevelopment
Project pursuant to section 18-2147 of the Act and collected for a period not to exceed fifteen
(15) years from the division date. Upon receipt, the Agency shall deposit the proceeds of the
Bond with the City Treasurer of the City pursuant to the Resolution, and the Treasurer shall
disburse such proceeds to provide for all or a portion of the costs of the Public Improvements in
accordance with the following:
(a) Costs related to the Redevelopment Proj cot as incurred by the Agency, including
the fees and expenses of special counsel; and
(b) Costs for the Public Improvements, as identified and allocated on Exhibit "B"
("Eligible Costs"), to the extent paid by Redeveloper shall be reimbursed (but
only from available grant monies) to Redeveloper, as evidenced by paid invoices
or other evidence acceptable to the Agency; each such reimbursement shall be and
constitute a grant to Redeveloper made under the terms on this Redevelopment
Agreement and the Act.
If, during the course of the fifteen -year period described above, the Agency, in its sole discretion,
determines that the incremental ad valorem real property taxes collected in relation to the
DOCS/2094598.2 4
Redevelopment Project will exceed the original Bond amount, the Agency may issue an
additional Bond to cover any outstanding Eligible Costs of Redeveloper. Such Bond shall be
distributed in the manner described above and shall only be payable ftom the grant proceeds
collected during the initial fitfeen-year period Rom the division date.
Section 3. Covenants With Respect to Taxation. of Redevelopment Project Area..
Redeveloper agrees with respect to the Redevelopment Project as follows:
(a) Until the termination of this Redevelopment Agreement (as described in Section
18 hereof), Area Two and Area Four shall be operated for the use substantially
similar to that contemplated in the Plan and no sale or conveyance of such
property shall be made to any person or entity for ownership or use which would
cause the real property within the Redevelopment Project Area to be eligible for
exemption from ad valorem taxes under Section 77-202 R.R.S. Neb. 2009, as now
existing or hereafter amended, or any successor provision thereto. The covenants
in this section 3(a) shall be binding upon all current and future owner's of real
property within Area Two and Area Four. Redeveloper and Eriksen Construction,
or their respective successors and assigns, shall place covenants, conditions and
restrictions upon each individual lot within Area Two and Area Four enforcing
this covenant for the duration of this Redevelopment Agreement.
(b) Redeveloper intends to create a taxable real property valuation of the
Redevelopment Project Area of $200,000 to $275,000 for single-family homes (as
determined by the initial sale price of the home) and $500,000 for each condo
located within Redevelopment Project Area (individually, with respect to each tax
parcel within the Redevelopment Project Area, the "Minimum Valuation') by
2029. Redeveloper and Agency may enter into a supplemental written agreement
to determine a Minimum Valuation for any tax parcel with private improvements
other than a single-family home or condo constructed thereon. From and after the
issuance of the Bonds and so long as the Bonds remain outstanding and unpaid,
Redeveloper, Eriksen Construction and all subsequent owners of real property
within Area Two and Area Four agree that they shall not contest any taxable
valuation assessed for the Redevelopment Project Area, as determined by the
appropriate assessing and taxing officials of Washington County, Nebraska, for
purposes of local ad valorem real estate taxes which does not exceed the
Minimum Valuation. The covenants in this section 3(b) shall be binding upon all
current and fixture owners of real property within Area Two and Area Four.
Redeveloper and Eriksen Construction, or their respective successors and assigns,
shall place covenants, conditions and restrictions upon each individual lot within
Area Two and Area Four enforcing this covenant for the duration of this
Redevelopment Agreement.
(c) if, during the period of this Redevelopment Agreement and after the filing of a
notice to divide, the Redevelopment Project Area is assessed at less than the
Minimum Valuation, Redeveloper, or the holder of the Bond(s), shall defer
DOCS/2094598.2
receipt of any such shortfall. If the Bond holder is required to defer the receipt of
any such shortfall amounts, the Bond holder shall be entitled to receive
reimbursement of any such shortfall payment to the extent incremental ad
valorem taxes later become available during the fifteen (15) year period
prescribed by the Act in an amount in excess of the amount necessary to meet the
current debt service payments. Redeveloper and the Bond holder shall forgive
any such shortfall amounts not reimbursed at the end of the fifteen (15) year
period prescribed by the Act. Additionally, in its sole and exclusive discretion,
the Agency may levy a tax under section 18-210'%(11) of the Act to account for
any such shortfall.
(d) Redeveloper and Eri csen Construction further agrees as follows:
(i) to pay all local ad valorem real estate taxes as levied and assessed before
the same become delinquent; and
(ii) not to seek any administrative review or judicial review of the
applicability or validity of any tax statute relating to taxation of the
Redevelopment Project or to raise such inapplicability or invalidity as a
defense in any administrative or judicial proceedings; and
(iii) not to seek any tax deferral or tax abatement with respect to local ad
valorem taxes, either as presently or prospectively authorized under any
law of the State of Nebraska or federal law with respect to the
Redevelopment Project; and
(iv) to pay or cause to be paid, when due and before any fine, penalty, interest
or cost may be added thereto for the nonpayment thereof, all water and
sewer rates and charges, occupancy tax, special assessments and other
governmental levies and charges, general and special, ordinary and
extraordinary, unforeseen as well as foreseen, of any kind and nature
whatsoever, which are assessed, levied, confirmed, imposed or become
payable with respect to the Redevelopment Project; provided, however,
that any special assessments levied for water, sewer or paving
improvements shall be permitted to be paid as the same fall delinquent and
may bear interest fiom the date of levy or other appropriate date set by the
levying body; and
(v) to pay those local ad valorem real estate taxes levied and assessed to
become due on or before December 31, 2033, at the earliest time in said
year that such taxes have been determined and in any event on or before
December 31,2033; and
(vi) to retain copies of all supporting documents (as defined under section 18-
2119(4) of the Act) actually generated and received by redeveloper in
relation to the Redevelopment Proj cot or Plan until the expiration of three
DOCS/2094598.2
years following the end of the last fiscal year in which ad valorem taxes
were divided in relation to the Redevelopment Prof cot;
The covenants in this section 3 (d)(i-v) shall be binding upon all current and future
owners of real property within Area Two and Area Four. Redeveloper and
Erikson Construction, or their respective successors and assigns, shall place
covenants, conditions and restrictions upon each individual lot within Area Two
and Area Four enforcing this covenant for the duration of this Redevelopment
Agreement.
(e) in no event shall amounts payable by Redeveloper under the terms of this
Redevelopment Agreement for real estate taxes related to the amounts of taxes
attributable to increases in valuation in excess of the Minimum Valuation be
available or be applied or be required to be paid for purposes of paying principal
or interest on any debt obligation of the City or the Agency other than the Bonds,
until the Bonds has been paid in full.
Section 4. Release and Indemnification.
Redeveloper hereby releases from and covenants and agrees that the Agency and the
City, togetherwiththeir governing body, officers, agents, including their independent
contractors, consultants and legal counsel, servants and employees thereof (hereinafter, for
purpose of this Section 4, collectively the "Indemnified Parties") shall not be liable for and
agrees to indemnify and hold harmless the Indemnified Parties against any loss or damage to
property or any injury to or death of any person occurring at or about or resulting from any
defect arising from the Redevelopment Project or within the Redevelopment Project Area.
Provided, however, such release shall not be deemed to include such liability actions as arise
directly out of the willful misconduct of the Agency or the City.
Additionally, the Indemnified Parties shall not have any pecuniary obligation or monetary
liability under this Redevelopment Agreement. The obligation of the Indemni-fied Parties on the
Bonds or any indebtedness contemplated hereunder shall be limited solely to the incremental ad
valorem taxes generated from the Redevelopment Proj ect pledged as security for such
indebtedness. Specifically, but without limitation, the Indemnified Parties shall not be liable to
Redeveloper or any other third party for any costs, liabilities, actions, demands, or damages for
failure of any representations, warranties or obligations hereunder.
Section 5. Covenants to Run with the Land; Easement; Recording of
Redevelopment Agreement.
Redeveloper, Eriksen Construction and Agency agree and acknowledge that this
Redevelopment Agreement and the undertakings of Redeveloper and the Agency as herein
provided for shall be considered as and constitute covenants running -with the land binding upon
Redeveloper and the Agency and their successors and assigns and upon each successive owner of
the Redevelopment Project Area or any portion thereof. Redeveloper hereby acknowledges and
agrees that by the terms of this Redevelopment Agreement it is binding and obligating any and
DOCS/2094598.2 7
all of its interest in the Redevelopment Proj cot Area, now or hereafter acquired, and hereby
covenants and warrants for the benefit of the Agency and the registered owner of the Bonds that
Redeveloper shall defend such interest in the Redevelopment Project Area against the claims and
interests of any and all persons. Redeveloper, Eriksen Construction and the Agency agree and
acknowledge that a copy of this Redevelopment Agreement shall be recorded against all real
estate located in the Redevelopment Project Area and shall remain of record until the Bonds have
been paid in full or matured. As and to the extent that this Redevelopment Agreement does not
have priority by order of recording over each and every mortgage or other instrument securing
indebtedness of Redeveloper, Redeveloper hereby agrees to obtain the written agreement in
recordable form from each mortgagee or other encumbrancer having any such priority, which
written form acknowledges and agrees to the terms of this Redevelopment Agreement.
Redeveloper agrees to provide the Agency with a title report or other evidence as to the status of
title to the Redevelopment Project Area after the recording of this Redevelopment Agreement
and before the issuance of the Bonds. After the Bonds have been paid in fall, Redeveloper or
any successor or assign of Redeveloper, or current owner of real prop city within the
Redevelopment Project Area, shall have the right to request in writing and the Agency shall,
upon such request, execute and deliver an appropriate instrument evidencing the termination of
this Redevelopment Agreement and of the covenants and undertakings herein provided. The
Agency shall have the right, from time to time in its sole and reasonable discretion, to release
specific parcels or lots located within the Redevelopment Project Area fiom any or all of the
specific provisions of this Redevelopment Agreement,
Section 6. Default and Remedies upon Default..
Redeveloper and Agency agree with respect to any defaults or failures ,of performance by
Redeveloper or Agency as follows:
(a) The following shall constitute "Events of Default" under the terms of this
Redevelopment Agreement:
(i) failure by Redeveloper or Agency to observe timely or perforin timely any
covenant, condition, obligation or agreement on its part to be observed or
performed under this Redevelopment Agreement;
(ii) any representation or warranty made herein by Redeveloper or Agency
proves untrue in any respect reasonably deemed to be material by the
Agency or Redeveloper;
(iii) an event of default or material breach by or attributable to Redeveloper or
Agency relating to the Redevelopment Project or any portion thereof,
including, without limitation, breach of the terms of any agreement or
other instrument relating to the financing or construction thereof; or
(iv) Redeveloper makes an assignment for the benefit of creditors, files a
petition in bankruptcy, is adjudicated insolvent or bankrupt or petitions for
an order for relief, petitions or applies to any tribunal for the appointment
DOCS/2094598.2
of any receiver or any trustee or a debtor in possession of Redeveloper or
any part of its property or commences any proceeding related to
Redeveloper under any reorganization, arrangement, readjustment of debt,
dissolution or liquidation act, code, law or statute of any jurisdiction,
whether now or hereafter in effect, or if there is commenced against
Redeveloper any such proceedings and Redeveloper by any act indicates
its consent or approval of or acquiescence in any such proceeding or the
appointment of any receiver or any trustee or debtor in possession for
Redeveloper or any part of its property or suffers any such receivership or
trusteeship.
(b) Whenever a Event of Default occurs, in addition to all other remedies available to
the Agency or Redeveloper at law or in equity, the Agency or Redeveloper (1)
may suspend its performance under this Redevelopment Agreement, including an
order to the City Treasurer or any other appropriate officer to suspend contracting
for Public Improvements or disbursement of monies for Eligible Costs or other
improvements until receiving adequate assurances fiom Redeveloper or Agency
that Redeveloper or Agency has cured the default and will continue performance
under this Redevelopment Agreement; and (2) may take such action at. law or in
equity as the Agency or Redeveloper reasonably deem appropriate, including
specific performance or injunction to enforce or compel performance of the
provisions of this Redevelopment Agreement.
(b) Redeveloper acknowledges and agrees that the Agency or any registered owner of
any Bonds outstanding under the Resolution shall each be entitled to specific
performance and injunction or other equitable relief for any breach or threatened
breach of any of the provisions of this Redevelopment Agreement,
notwithstanding the availability of an adequate remedy at law and Redeveloper
hereby waives the right to raise such defense in any proceeding in equity.
(c) No remedy herein conferred upon or reserved to the Agency or the registered
owner of the Bonds is intended to be exclusive of any other available remedy or
remedies, but each and every such remedy shall be cumulative and shall be in
addition to every other remedy given under this Redevelopment Agreement or
now or hereafter existing at law or in equity. No delay or omission to exercise
any right or power accruing upon any default shall impair any such right or power
or shall be construed to be a waiver thereof, but any such right and power may be
exercised fiom time to time and as often as may be deemed expedient.
(g) If any provision of this Redevelopment Agreement is breached by a Party and
thereafter waived by the other Party, such waiver shall be limited to the particular
breach so waived and shall not be deemed to waive any other concurrent, previous
or subsequent breach hereunder.
(h) Anything in this Section 6 to the contrary notwithstanding, none of the events
described in subsection 6(a)(iv) above shall constitute an Event of Default after
DOCS/2094598.2 9
the Redevelopment Project has been completed and the proceeds of the Bonds
have been disbursed in full.
Section 7. Status of Agency..
The Agency shall not be regarded as the partner, joint venturer or other jointly acting
party with Redeveloper for any purpose whatsoever and the undertakings and agreements on the
part of the Agency herein provided for axe undertaken solely pursuant to the provisions of
sections 18-2101 to 18-2150 of the Act and for the limited governmental purposes of promoting
and encouraging redevelopment of a blighted and substandard arca.
Section 8. Manner of Sale of Bond(s).
Redeveloper agrees to. accept the Bonds in the principal amount thereof in consideration
for the Public Improvements or to find a purchaser for the Bonds upon terms and conditions
acceptable to the Agency. Any such sale or placement of the Bonds shall be by means of a
private placement to a financial institution or other institutional buyer capable of evaluating the
risks of investment in the Bonds or to Redeveloper. Any such purchaser, excluding
Redeveloper, shall provide to the Agency an investment letter setting forth the understanding as
to purchase for investment and not for any further distribution, in a form approved by the
Agency.
Section 9. Indemnification and Penal Bond
Redeveloper hereby agrees to indemnify and save the Agency harmless for any payment
or liability to which the Agency may become subject for carrying out of any contract entered into
by Redeveloper with respect to the Redevelopment Project. - Redeveloper agrees to provide to the
Agency evidence that there is in effect a bond for the payment costs as required under Section
18-2151 of the Act.
Section 10. Additional Parties Added as Redeveloper.
The Parties specifically agree that additional parties or entities may be admitted to and
included within the meaning of the, term "Redeveloper" upon the mutual written consent of both
Parties.
Section 11. Redevelopment Agreement Binding UP on Successors and Assigns.
This Redevelopment Agreement is made for the benefit of Redeveloper, the Agency and
the registered owners from time to time of the Bonds as third party beneficiaries. This
Redevelopment Agreement shall be binding upon the Agency and Redeveloper, and any
successors or assigns thereof. Redeveloper may assign its interest in the Redevelopment Project,
in whole or in part, upon the prior written approval of the Agency. No assignment by
Redeveloper to the assignee shall be effective until a written instrument binding the assignee
under the terms of the Plan and this Redevelopment Agreement (as and to the extent of such
assignment), duly acknowledged and in recordable form, has been executed and delivered by the
DOCS/2094598.2 10
assignee and recorded in the real estate records of Washington County, Nebraska, with respect to
the Redevelopment Project Area.
Section 12. Titles of Sections.
Any titles of the several Sections of this Redevelopment Agreement are inserted for
convenience of reference only and shall be disregarded in construing or interpreting any of the
provisions hereof.
Section 13. Notices.
Except as otherwise specified herein, all notices hereunder shall be in writing and shall be
delivered to the address for the City Administrator, with respect to the Agency, and the City
Clerk, with respect to the Redeveloper, or such other address as such Party may hereafter specify
by notice to the other given by United States mail or by other telecommunication device capable
of creating a written record of such notice and its receipt.
Each such notice, request or other communication shall be effective (i) if given by mail,
five (5) days after such communication is deposited in the mail, certified or registered with return
receipt requested, addressed as aforesaid or (ii) if given by any other means, when delivered at
the addresses specified in this Section 13 or at any such other address with respect to any such
Party as that Party may, from time to time, designate in writing and forward to the other Party as
provided in this section.
Section 14. Severability..
If any provision of this Redevelopment Agreement shall be held or deemed to be or shall,
in fact, be inoperative or unenforccable as applied in any particular case, for any reason, such
circumstances shall not have the effect of rendering the provision in question inoperative and
unenforceable in any other case or circumstance, or of rendering any other provision or
provisions herein contained, invalid, inoperative or unenforceable to any extent whatever. The
invalidity of any one or more phrases, sentences, clauses, sections or paragraphs in this
Redevelopment Agreement shall not affect the remaining portions of this Redevelopment
Agreement or any part thereof.
Section 15. Counterparts.
This Redevelopment Agreement may be executed in any number of counterparts, each of
which shall constitute one and the same instrument.
Section 16. Law Governing.
The Parties agree that this Redevelopment Agreement shall be governed and construed in
accordance with the laws of Nebraska.
Section 17. Time of the Essence.
DOCS/2094598.2 11
Time shall be of the essence of this Redevelopment Agreement,
Section 18. Termination.
This Redevelopment Agreement shall commence as of the date first above written and
shall terminate upon the earlier of fifteen years after the division date set forth in Section 2 of
this Redevelopment Agreement or payment of all principal and interest owed toward the
Bond(s).
Section 19. Force Majeure Event.
Neither Redeveloper nor the Agency shall be considered in breach of, or in default in its
obligations with respect to any of the obligations under this Redevelopment Agreement in the
event that an enforced delay in the performance of such obligations due to unforeseeable causes
beyond its control and without its fault or negligence, caused by a Force Maj cure Event, which is
defined herein as any failure or delay in performance by a Party that is proximately caused by
acts of God, or ways or insurrections; it being the purpose and intent of this provision that in the
event of the occurrence of any such enforced delay, the time or times for performance of the
obligations of Redeveloper or the Agency, as the case may be, shall be extended for the period of
the enforced delay as determined by the mutual agreement of Redeveloper and the Agency;
provided, that Redeveloper or the Agency, as the case may be, shall, within twenty (20) days
after the beginning of any such enforced delay, have notified Redeveloper or the Agency (as
applicable) in writing of the cause or causes thereof, and requested an extension for the period of
the enforced delay.
Section 20. Effect of Redevelopment Agreement.
This Redevelopment Agreement (including the Plan as incorporated by reference)
constitutes the entire understanding by and between the Parties concerning the subject matter
hereof, and supersedes and replaces all prior agreements. No other prior or contemporaneous
representations, inducements, promises or agreements, oral or otherwise, between or among the
Parties relating to the subject matter hereof and not embodied in this Redevelopment Agreement
shall be of any force and effect,
Section 21. Consent and Ratification by Future Owners
Within a commercially reasonable time after execution of this Redevelopment Agreement
by both the Agency and Redeveloper, Redeveloper shall cause Eriksen Construction to execute
the "Consent and Ratification" attached hereto and incorporated herein as Exhibit "C".
Redeveloper shall cause any third party that purchases a lot from Redeveloper within. Area Four
to execute a similar document prior to such sale.
(Signatures on following page)
DOCS/2094S98.2 12
IN WITNESS WHEREOF, the Agency and Redeveloper have caused this Redevelopment
Agreement to be executed by their duly authorized representatives.
COMMUNITY DEVELOPMENT AGENCY OF
THE CITY OF BLAIR, NEBRASKA
By; �,—
J es , ealph, LChairperson ayor)
ATTEST:
LU' L
Brenda Wheeler, Secretary (City Clerk)
STATE OF NEBRASKA. )
) ss.
COUNTY OF WASIHNGTON )
The foregoing instrument was acknowledged before me this ?-(9 day of -J-u ne ,
2018, by James Realph, Chairperson, and Brenda Wheeler, Secretary, of the governing body of
the Community Development Agency of the City of Blair, Nebraska on behalf of such agency.
Alt -9 -
Notary Public
DOCS/2094598.2 13
CITY OF BLAIR, NEBRASKA., a Nebraska
municipal corporation
Name: James Realph
Title: Mayor
By:
Ma
ATTEST:
Clerk
STATE OF NEBRASKA )
ss.
COUNTY OF WASHINGTON )
The foregoing instrument was acknowledged before me this 26th day of June, 2018, by James
Realph, Mayor, and Brenda Wheeler, Cleric, of the City of Blair, Nebraska, on behalf of the City
of Blair, Nebraska.
DOCS/2094598.2 1
Exhibit "A"
Redevelopment Project Area
Legal Description:
Area One:
Lot 2, in Transformation Hill Addition, in the City of Blair, Washington County, Nebraska.
Area Two:
Lots 12 thtu 26, inclusive, in Transformation Hill Addition, in the City of Blair, Washington
County, Nebraska, together with that portion of Hansen Drive right-of-way lying south of the
southerly lot line of Lot 26.
Area Three:
Tax Lots 425 and 643 in the Northwest Quarter (NW1/4) of Section 11, Township 18 North,
Range 11 East of the 6th P.M., in the City of Blair, Washington County, Nebraska, together with
that pari of Hansen Drive right-of-way and North 27th Street right-of-way abutting on the west
and south.
Area Four:
Lots 27 thtu 57, inclusive, in Transformation Hill Addition, in the City of Blair, Washington
County, Nebraska, together with ZCxejci Boulevard.
* The above legal descriptions are approximations based upon a replat of the Redevelopment
Project Area, and any discrepancies between the legal descriptions and the depiction of the
Redevelopment Project Area below shall be decided in favor of the depiction of the
Redevelopment Project Area.
Exhibit "A"
DOCS/2094598,2
Depiction:
Exhibit "A"
DOCS/2094598,2
Projected. Sources:
Estimated Tax Levy
Interest Rate
Number of Years
Property Valuation:
Pre -Project
Completed Project
Exhibit "B"
Projected TIF Sources and Uses
2.05
MR]
15
Assessed Val. Est. Taxes (less 1% assessor's fee)
$700,000* $14,206.50
$8,554,333** $173,600.19
Difference $7,854,333 $159,393.69
Annual TIF Amount: $159,393.69
Total TIF Amount: $2,390,905
* The assessed value of the Redevelopment Project Area is based upon an estimate and not
historical records due to replatting and the land's prior tax-exempt status. The actual base
valuation will be determined by the county assessor for Washington County.
* * The estimated value of the completed Redevelopment Project is an average of the estimated
assessed values over the course of 15 years, based upon the anticipated progression of
construction,
Exhibit "B"
DOCS/2094598.2
Proiected TIF Uses (i.e., Public Improvements and Eligible Costs):
Asbestos Abatement
$210,000.00
Building Demo
$450,000.00
Tree Removal
$35,000.00
Grading (North)
$40,000.00
Grading (South)
$30,000.00
Gas Line Relocate
$20,000,00
Storm Water Management
$30,000.00
Reconstruction Hanson St., 27th St. & Workforce Blvd.
$100,000,00
Electric Installation for Lots 27 through 57
$45,000.00
Storni Sewer along Viking Cir.
$29,000.00
City TIF Costs for Subdivisions (itemized)
Extension Sewer from College Dr. to Hanson
$280,000.00
Extension Sewer to Lots 1926
$120,000.00
Extension Sewer on Workforce Blvd.
$125,000.00
Street Extension for Workforce Blvd.
$125,000.00
Storm. Sewer Worktbrce Blvd. $50,000.00
Temp turn -a -round Workforce Blvd. $20,000.00
Water Extension to Lots 2757 $65,000.00
Legal Fees $20,490.00
Warrant Interest $42.510.00
TOTAL $1.,837,000.00
* The above figures are only estimates of the Eligible Costs and such actual costs will be
reflected in the cost certifications required under section 2(b) of the Redevelopment Agreement.
* * All Eligible Costs contemplated in the Plan and not otherwise specified herein shall be
included as Eligible Costs for purposes of this Redevelopment Agreement under this Exhibit
"B"
*** Eligible Costs are projected to be in excess of $1,480,000, but the initial Bond is limited to
$1,480,000 as a fiscal precaution due to the anticipated length of the Redevelopment Project and
unimown future market conditions. However, the City may issue additional Bonds, as provided
in section 2 of this Redevelopment Agreement, to cover any outstanding Eligible Costs in the
event that the incremental ad valorem real property taxes collected in relation to the
Redevelopment Project exceed the original Bond amount.
Exhibit "B"
DOCS/2094598.2
Exhibit "C"
Consent and Ratification
(See attached)
Exhibit °C°
DOCS/2094598,2
CONSENT AND RATIFICATION
The undersigned, Erikson Construction Co., Inc., aNebraska corporation ("Erik -sen
Construction"), hereby executes this Consent and Ratifrcatiori as of 2018 (the
"Effective Date").
WHEREAS, the Community Development Agency for the City of Blair, Nebraska
("Agency") and the City of Blair, Nebraska, a Nebraska municipal corporation ("Redeveloper")
have entered into that certain redevelopment agreement dated 2018 (the
"Redevelopment Agreement"); and
WHEREAS, the Redevelopment Agreement affects that certain Property owned by
Eriksen Construction which is legally described on Exhibit "1" (the "Property"); and
WHEREAS, Erikson Construction has agreed that the Property shall be subject to the
Redevelopment Agreement and the record owner of the Property shall comply with any
obligations set forth in the Redevelopment Agreement specific to the Property or owner; and
WHEREAS, Erikson Construction has further agreed that in exchange for Redeveloper's
efforts in securing the Redevelopment Agreement and rights related thereto, Redeveloper shall
be entitled to retain all economic benefits and rights of the "Redevelopment Project" under the
Redevelopment Agreement, including, but not limited to, the proceeds of the Bonds (as defined
in the Redevelopment Agreement); and
WHEREAS, Erikson Construction consents to the filing of, and ratifies the
Redevelopment Agreement and in all respects acknowledges and approves the Redevelopment
Agreement and its recording with this Consent and Ratification in the records of the Register of
Deeds of Washington County, Nebraska, against the Property.
NOW THEREFORE, by execution of this Consent and Ratification, Eriksen Construction
hereby ratifies the foregoing statements as of the Effective Date, acknowledges the receipt and
sufficiency of the consideration, and agrees that this Consent and Ratification shall run with the
land and shall be binding upon Erikson Constriction, its successors and assigns and upon each
successive owner of the Property or any portion thereof.
(Signatures on following page)
Consent and Ratification to Redevelopment Agreement
DOCS/2094598.2
IN WITNESS WHEREOF, Eriksen Construction has caused this Consent and
Ratification to be executed by its duly authorized representatives as of the Effective Date.
ERIKSEN CONSTRUCTION CO., INC., a
Title: 644A"t6 fA ik-; I y'-
Consent and Ratification to Redevelopment Agreement
DOCS/2094598.2
Exhibit r i 111
Legal Description of Property
Lots 12 thru 26, inclusive, in Transfonnation Hill Addition, in the City of Blair, Washington.
County, Nebraska,
Consent and Ratification to Redevelopment Agreement
DOCS/2094598.2